Jones Lang LaSalle
Burlington Coat Factory Signs Three Industrial Leases Totaling 779,000 SF
By Eric Peterson
Last updated: March 21, 2006 09:30am
(To read more on the industrial market, click here.)
BURLINGTON, NJ-Following a site selection process that began more than two years ago, Burlington Coat Factory has signed three industrial leases totaling 779,000 sf. The family-owned Burlington agreed earlier this year to be acquired by the Boston-based Bain Capital Partners for more than $2 billion.
The signings were arranged for the retailer by the Rutherford-headquartered Corporate America Realty & Advisors. “Burlington Coat is a value-driven company,” says Howard Applebaum, president of Corporate America Realty & Advisors. “But they’re sensitive to the logistics analysis that has to be done. Each requirement had its own unique specifications that were fulfilled.”
In the largest transaction, Burlington Coat took 439,000 sf for general merchandise warehousing at the 750,000-sf 570 East Mill St. in San Bernardino, CA. Building owner ProLogis was represented in-house by Mike Del Santo, and by Frank Geraci, Walt Chenoweth, Dan La Paz and Art Day of the Ontario, CA office of CB Richard Ellis. Applebaum was assisted on behalf of the tenant by Anthony J. Brent, SVP of Lee & Associates, City of Industry, CA.
Burlington Coat has also signed on for 300,000 sf for its Baby Depot inventory at 42 Runway Rd. in Levittown, PA. In a separate transaction, the company has also taken 40,000 sf for its Web-based orders at 32 Runway Rd. nearby. Both properties are owned by a partnership of Frank Greek & Son of East Brunswick, NJ and Principal Life Insurance of Des Moines, IA.
Burlington Coat Factory Signs Three Industrial Leases Totaling 779,000 SF
By Eric Peterson
Last updated: March 21, 2006 09:30am
(To read more on the industrial market, click here.)
BURLINGTON, NJ-Following a site selection process that began more than two years ago, Burlington Coat Factory has signed three industrial leases totaling 779,000 sf. The family-owned Burlington agreed earlier this year to be acquired by the Boston-based Bain Capital Partners for more than $2 billion.
The signings were arranged for the retailer by the Rutherford-headquartered Corporate America Realty & Advisors. “Burlington Coat is a value-driven company,” says Howard Applebaum, president of Corporate America Realty & Advisors. “But they’re sensitive to the logistics analysis that has to be done. Each requirement had its own unique specifications that were fulfilled.”
In the largest transaction, Burlington Coat took 439,000 sf for general merchandise warehousing at the 750,000-sf 570 East Mill St. in San Bernardino, CA. Building owner ProLogis was represented in-house by Mike Del Santo, and by Frank Geraci, Walt Chenoweth, Dan La Paz and Art Day of the Ontario, CA office of CB Richard Ellis. Applebaum was assisted on behalf of the tenant by Anthony J. Brent, SVP of Lee & Associates, City of Industry, CA.
Burlington Coat has also signed on for 300,000 sf for its Baby Depot inventory at 42 Runway Rd. in Levittown, PA. In a separate transaction, the company has also taken 40,000 sf for its Web-based orders at 32 Runway Rd. nearby. Both properties are owned by a partnership of Frank Greek & Son of East Brunswick, NJ and Principal Life Insurance of Des Moines, IA.
posted by Jones Lang LaSalle NJ News Blog at 9:19 AM
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